MBS MID-DAY: Big Nasty Sell-Off. Widespread Reprices

– Starts 896k vs 900k Forecast
– Permits 943k vs 945k Forecast
– Single Fam Starts 591k vs 604k previously
– Multi Fam 305k vs 242k

Market Reaction: A few ticks of improvement but no sustained momentum.

Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 943,000. This is 2.7
percent (±0.8%) above the revised June rate of 918,000 and is 12.4 percent (±1.3%) above the July 2012 estimate of 839,000.

Single-family authorizations in July were at a rate of 613,000; this is 1.9 percent (±0.9%) below the revised June figure of 625,000.
Authorizations of units in buildings with five units or more were at a rate of 303,000 in July.

Privately-owned housing starts in July were at a seasonally adjusted annual rate of 896,000. This is 5.9 percent (±14.5%)* above the
revised June estimate of 846,000 and is 20.9 percent (±12.9%) above the July 2012 rate of 741,000.

Single-family housing starts in July were at a rate of 591,000; this is 2.2 percent (±9.7%)* below the revised June figure of 604,000.
The July rate for units in buildings with five units or more was 290,000.

Single-family housing completions in July were at a rate of 571,000; this is 5.9 percent (±10.2%)* above the revised June rate of
539,000. The July rate for units in buildings with five units or more was 195,000.

Article source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/321052.aspx

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